How Brexit will affect the British marine industry

Britain’s marine industry has a turnover of over £3bn. Matthew Partridge examines how Brexit is likely to affect it.

170901-marine-b

Britain's marine industry has a turnover of £3bn
(Image credit: 2013 Getty Images)

When you think of British manufacturing, boat building especially yachts isn't the first thing that comes to mind. However, despite this low profile, it is quite important to the UK economy, and one of those highly skilled creative sub-sectors that economists agree we need to maintain an advantage in. The wider marine industry, which includes leisure activities related to the water as well as the construction of superyachts and small commercial vessels, has a combined turnover of £3bn. What's more, a lot of this involves exports, helping Britain's balance of payments.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri